Manager creates company value throughactivities. Company’s owners and managers are different interest subjects, and they connect because of company. Company owners design more reasonable salary system to encourage the manager and the managers utilize the salary system to get their max profit. This intermediate compensation mechanism design is one of the focuses of the game.In modern corporate governance research, a lot of academic discussion and analysis focus on executive pay. The domestic research literatures introduce perquisite-consumption concept late, and empirical study on monetary compensation and perquisite-consumption come out in recent period. In most domestic academic study, the research object concentrates on state-owned enterprises. Along with the system market-oriented, the status and role of non state-owned enterprises promoted rapid. Compared with state-owned enterprises, non-state-owned enterprises’development starts late. Their small, unscientific, and -operation is not standard. The disclosure of information quality is also not high, so the private ’s academic research is late. And private enterprises constantly improve their competitiveness in market competition. Private enterprises and SOE compete with each other, common development, and draw lessons from each other. They complement each other as to form our country current economy development pattern.In May2004, CSRC approved to setup board in Shenzhen stock exchange via approval of the State Council. Private enterprises get majority in board and the proportion of two types of business reflect character of our country’s small and medium-sized enterprises. Relative to the main board companies, board of listed companies have small size, high-tech and company growth is advanced. In the aspect of corporate governance, SME internal control system design and implementation have a certain gap with the main board listed companies.Then, how extent the compensation influences the value of the SME? How the Manager influence the results of monetary compensation and Perquisite-Consumption? How different the incentive pays effect of SME’ state-owned enterprises and non state owned enterprises? This paper wants to get the answer through the theoretical analysis and empirical test.The article is divided into four parts, as follows:The first chapter is the introduction, mainly explains the research background and research significance, and finishing the research thought and writing frame.The second chapter is the literature review. The review mainly from the incentive literature, and divided it into foreign literature studies and domestic literature studies.The third chapter is the related concepts and theories. In the theoretical part of this paper lists the four theories.The fourth chapter is the empirical part. The paper put the managers’incentive into monetary compensation incentive and perquisite consumption. The samples are listed companies on the SME board in the period2007-2010. Then divide the samples into state-owned enterprises and non-state-owned enterprises as comparative analysis.The fifth chapter is list the conclusion of the study, suggestions and lack of paper’s analysis.The main contributions of this thesis:1. Based on the SME board listed company, the listed company according to the nature of an group is a SOE and non-SOE.2. The management incentive for monetary compensation and perquisite-consumption, respectively two kinds of incentive methods to company value influence.3. Research data update to the years2007-2010. After the year2007, new guidelines for information disclosure of companies is stricter, weakening the management company to operate within the space, so the data update improves the conclusions of the study of reliability.4. In contrast to SOE and non-SOE managers’compensation and corporate value, transverse contrast is more convincing. Both descriptive statistics and regression analysis are always grouped data comparison, data results in the difference of more representatives.The inadequacy of the paper:l.The study sample year is relatively short, the regression results may have certain effect, this paper choose regression panel data GLS regression, sample annual cross period is longer, the regression results more convincing.2. Research data time section by the macroeconomic impact of large. Sample selection for during the year2007-2010, the period of the international financial crisis and national rescue plan for the value of the company and management compensation is disclosed to have certain effect, the article did not consider.3. Perquisite-Consumption data worthy of further improvement.
Frequent Buyer Deals!
Buy 4 Get 1 Free
Customer Care Center
Exclusive Order Taking Hotline
- A Research on the Effect of Corporate Governance on Earnings Quality in Chinese Listed Companies
- The Research on Efficacy Evaluation of Hyperthyroidism with Syndrome Differentiation and Treatment of Traditional Chinese Medicine
- M&A is one if the important forms of capital collocation, and also a…
- Theory Evidence and Positive Test of Shibor as China’s Marketization Benchmark Interest Rate
- The T-method of Preventive Maintenance for Inspected Systems with Additive Subexponential Shock Magnitudes
- Synchronous Belt Static Capability and Dynamic Capability Analysis and Research
- Studies on Synthesis and Fungicidal Activity of N-((Aryl)(2-Hydroxynaphthalen-1-Yl) Methyl) Amides
- The Investigation and Reflection about the Compilation of Newspaper Reading Practice Textbook of Chinese as a Foreigr Language
- Synthesis of 2-Pyrones Via Palladium-Catalyzed Selective Cross-Coupling Reactions and Study on Copper-Catalyzed Chan-Lam Cross-Coupling Reactions
- Synthesis and Properties of Naphthyl Thermotropic Liquid Crystalline Polymer
AHP Capital structure China commercial bank Commercial banks core competence corporate governance countermeasure countermeasures credit risk Development Development Strategy economic growth evaluation Factor Analysis FDI Foreign Direct Investment game theory human capital Index system industrial structure Innovation Internal Control Listed companies Listed Company management marketing marketing strategy Model performance Performance evaluation Performance Management Project Management Real Estate research Risk risk management strategy Supply chain Supply chain management sustainable development SWOT analysis system urbanization value chain